MTN share price increase on news of GHS 2bn profit for 2021
Stock price of MTNGh at the close of trading session on Tuesday increased by 2.86 percentage points as the equity emerged as the sole gainer on the local bourse.
The increase resulted in the equity ending trading session with a closing stock price of GHS 1.08 from the opening stock price of GHS 1.05.
GAINER
| Ticker | Close Price (GH¢) | Open Price (GH¢) | Change | YTD Change |
| MTNGH | 1.08 | 1.05 | 2.86% | -2.70% |
The witnessed increment in the stock price of the telecom giant, is believed to be on the back of news of some GHS 2bn profit after tax recorded by the company in 2021.
Telecoms giant, MTN Ghana, for the year ended 2021 recorded a 43.5% growth in its net profit.
Per the telecoms giant 2021 Financial Statement, net profit at end-2021 amounted to GHS 2 billion.
MTN’s revenue went up by 28% to reach GHS 7 billion as its subscriber base increased by almost 4% from 2020 to hit 25.4 million in early 2022.
The Company’s Board in view of the recorded net profit for 2021, has declared an interim dividend of GHS 0.03 per share.
Following the full year performance of the company, the Board has recommended a final dividend of GHS 0.085 per share, bringing the total dividend for 2021 to GHS 0.115 per share.
This represents 70.6% of profit after tax and a 43.8% increase in dividend per share when compared to that of 2020.
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Meanwhile, the benchmark GSE Composite Index (GSE-CI) increased by 35.23 points to close at 2,731.68, representing a 1-day gain of 1.31% and an overall YTD loss of 2.07% on the second trading day of the week.
The GSE Financial Stock Index (GSE-FSI) maintained its value at 2,118.96 points, translating into a YTD return of -1.53%.
Market capitalization thus increased by GHS 368.71 million to close at GHS 63.25 billion representing a YTD decline of -1.93% in 2022.
A total of 18,475,760 shares valued at GHS 19,917,367.62 were traded in thirteen (13) equities today as compared to 1,944,162 shares valued at GHS 532,725.66 which changed hands yesterday, 28th February, 2022.
MTNGH at close of market traded the most, accounting for 99.74% of the total value traded.
TOP TRADED EQUITIES
| Ticker | Volume | Value (GH¢) |
| MTNGH | 18,395,395 | 19,866,312.15 |
| PBC | 48,700 | 974.00 |
| SIC | 10,215 | 1,532.25 |
| ETI | 7,549 | 981.37 |
| BOPP | 4,411 | 26,346.00 |
Peruse equity report below:
Daily Equity Market Report_01.03.2022 by Fuaad Dodoo on Scribd
